Exelon Unit to Pay $200 Million to Resolve DOJ Lobbying Probe
July 17 2020 - 10:05AM
Dow Jones News
By Colin Kellaher
Exelon Corp. on Friday said its ComEd unit would pay $200
million as part of an agreement to resolve a U.S. Justice
Department investigation into the unit's lobbying practices in
Illinois.
Under a three-year deferred prosecution agreement, ComEd also
agreed to the government's filing of a single charge that will be
dismissed if the unit abides by all terms, Exelon said, adding that
the fine won't be recovered in rates or charged to customers.
Exelon said it acted swiftly to investigate when it learned
about the inappropriate lobbying conduct at the unit, and that it
determined that a small number of senior ComEd employees and
outside contractors were responsible.
"Since then, we have taken robust action to aggressively
identify and address deficiencies, including enhancing our
compliance governance and our lobbying policies," the company
said.
Exelon noted that the conduct at issue relates only to ComEd,
and that the agreement doesn't contain any allegation of misconduct
by the parent company.
While the deal resolves the government's investigation into both
ComEd and Exelon, a related U.S. Securities and Exchange Commission
investigation, as well as civil lawsuits, remain pending, Exelon
said.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 17, 2020 09:50 ET (13:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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